Policy & Regulation

WASHINGTON — Federal Reserve Board Chairman Ben Bernanke on Tuesday detailed efforts by policymakers to bring better clarity to the central bank's monetary policy decision making process.

Despite complaints from bankers that the controversial legal theory is unfair, many lawmakers said it has been a useful tool in combatting discrimination.

Two key senators are seeking further details from Janet Yellen, President Obama's nominee to head the Federal Reserve Board, on her approach to a number of supervisory issues, including plans to hire more staff.

JPMorgan Chase reached a $13 billion deal with the U.S. Justice Department that ends probes into the bank's sale of mortgage bonds, the largest amount paid by a financial firm in a settlement with the government.

Government officials hope to squeeze the giants down to size while executives are counting on thriving with modified business models. Reality lies somewhere in the middle.

The risk retention provision remains one of the top unfinished items for regulators implementing the 2010 Dodd-Frank Act. Regulators' second proposal may be more popular than the original, though it still leaves banks wary.

Just as U.S. policymakers are taking a more supportive approach to Bitcoin and other virtual currencies, countries that have taken a hands-off approach may soon weigh in with regulations that mirror those of the U.S.

WASHINGTON — Regulators released a tool on Tuesday that community banks can use to estimate how their capital matches up with new global standards.

Portugal's fourth-largest bank has received approval to open two representative offices in the United States.

JPMorgan Chase and the Justice Department reportedly have finalized the bank's $13 billion settlement of a civil inquiry into the sale of low-quality mortgage-backed securities that sunk in value during the 2008 financial crisis.